STRATEGIC MANAGEMENTSEMINARS

October 4, 2011Session 1 - 2

Which companies do these mission statements represent?

• "To experience the joy of advancing and applying technology for the benefit of the public“

• "To build a place where people can come to find and discover anything they might want to buy online."

• "To produce high-quality, low cost, easy to use products that incorporate high technology for the individual. We are proving that high technology does not have to be intimidating for non-computer experts.

Mission statements

Take a wild guess

• BMW vs. Mercedes• McDonalds vs. KFC• IBM vs. Apple• Acer vs. Dell• Google vs. Yahoo

Mission statements – conclusion?

Questions to consider• Why are some mission statements similar?• Why do they look so broad or general?• Would it pay to narrow a mission statement down?

Your task• For the company of your choice, formulate a mission statement in

your own words based on your current knowledge about the company.

• Identify the mission statement based on your research.

Corporate visionWhat problems do you see in these statements?

McDonalds:“… be the world's best quick service restaurant experience. Being the best means providing outstanding quality, service, cleanliness, and value, so that we make every customer in every restaurant smile.“

Toyota:"To become the most successful and respected lift truck company in the U.S.”

Avery Dennison:"To be recognized as the world's best coating and converting company by providing innovative decorating, information transfer and bonding solutions that enable our customers' success.“- Manufacturing pressure sensitive labeling materials, retail apparel ticketing, graphics

imaging media , office products, specialty tapes

Corporate vision

Your task

• Identify the corporate vision for your company

• Can be found directly in the vision statement or derived from a mix of information provided by top management.

• Will be subject to re-evaluation / reconsideration after SWOT analysis based on EFAS, IFAS, and SFAS are performed